Shell mulls disposal of Italian assets

OIL giant Royal Dutch Shell announced yesterday that it is looking to sell some of its Italian assets in order to streamline its portfolio.

Parts of the business potentially up for sale include its retail, aviation, and supply and distribution onshore businesses in the country.

The company’s non-service station lubricants and marine assets will not be included in any potential sale, nor will its upstream (offshore) and gas and power businesses.

“These businesses present strong growth opportunities for the company in Italy,” said the oil producer.

“The potential sale is consistent with Shell’s strategy to concentrate its global downstream businesses where it can be most competitive,” added the company.

“Italy remains an important country for Shell.”

Shell has recently sold refineries in the UK and Germany, as well as its onshore businesses in Finland and Sweden. It also established joint ventures in Brazil and Africa as part of its strategy to streamline its assets.

Shell’s market capitalisation was reported at around £133bn on the London Stock Exchange yesterday.